Global Temperature Controlled System Market Is Estimated to Rise from USD 4.5 Billion in 2019 To 5.4 Billion by 2024 At 3.9% Of CAGR During the Forecasted Period

Global Temperature Controlled System Market Is Estimated to Rise from USD 4.5 Billion in 2019 To 5.4 Billion by 2024 At 3.9% Of CAGR During the Forecasted Period

Technology is advancing rapidly with expanding mechanical progression in self-care, boost in requirement of disposable thermometers, innovative and cost effective temperature monitoring devises and intense competition, are the prominent causes which are driving force for global temperature monitoring market to reach optimum.

According to the latest survey, global temperature monitoring system is said to have a significant growth from the previous year. The global temperature controlled system market is estimated to rise from USD 4.5 billion in 2019 to 5.4 billion by 2024 at 3.9% of CAGR during the forecasted period. Evolution in market is mainly driven by manufacturing movement across several industries, protocols followed to maintain the quality of product peculiarly in food beverages and pharma products, and utilization of advanced technology. The temperature controlled system is segmented by

  • Type (Contact and Non- Contact)
  • Product (Analogue & Digital Temperature Monitoring Devises)
  • End-User (Health care facilities, Homecare and others)
  • Regional Forecast

It is predicted that the conventional temperature monitoring system section is said to dominate the whole conventional temperature monitoring systems market.

Based on the type temperature monitoring systems market is further divided into conventional temperature monitors, temperature monitoring strips and labels, and wireless monitors. Conventional temperature monitors are forecasted to overgrow the major stake of contact-based temperature control system. This segment is out-grown due to the prominent need risen during this pandemic.

Based on product temperature monitoring systems, Digital thermometers, Electronic temperature monitors, Infra-red aural thermometers and temperature strips are the foremost types. The threat of mercury poisoning has been a concern due to the usage of mercury in thermometers that has led to discovery of digital, electronic and infra-red temperature monitoring devises which in turn yield quicker results, are    economical and easy to operate. Owing to this fact, these electronic devices are preferred as they make temperature monitoring easy and quick. As a result of which digital, electronic, Infra-red, aural and temperature strips etc. monitoring systems segment is expected to contribute a large share in temperature monitoring systems market.

The temperature monitoring systems market has various end-users from house-holds to automotive, electronics, aerospace etc.

 The temperature monitoring systems market by End-users

  • Healthcare and Life Science Facilities
  • Healthcare Providers
  • Blood Banks, Tissue Banks, Diagnostic Labs, and IVF Clinics
  • Patient Monitoring & Home Care Settings
  • Other Healthcare and Life Science Facilities
  • Medical Device Manufacturing Companies
  • Pharmaceutical and Biotechnology Companies
  • Chemical and Petrochemical Manufacturing Companies
  • Energy and Power Generation Companies
  • Food and Beverage Product Manufacturers etc.

 

Geographically, North America held a larger share in the market in 2019. The temperature monitoring systems market regionally is further alienated to

  • North America -US and Canada,
  • Europe - Germany, France, the UK, and the Rest of Europe,
  • Asia Pacific - China, Japan, India, and the Rest of Asia Pacific,
  • and Rest of the World (RoW).

North America dominates the temperature monitoring systems market due to the factors like mass surgical procedures, rigorous legislative and extensive guidelines to maintain the quality of the product, existence in market as strong player, advanced research in technology temperature monitoring systems of etc.  Nevertheless, at present East and South Asian nations are expected to grow at a significant rate in the forecasted period.

Key players in temperature monitoring systems market

  • Covidien Plc,
  • Microlife Corporation,
  • Kaz Inc.,
  • A & D Medical Company,
  • Actherm Inc.,
  • Geratherm Medical AG,
  • Hicks thermometers Ltd,
  • Omron Healthcare Inc.,
  • Exergen Corporation,
  • Terumo Corporation,
  • Radiant Innovation,
  • Mediaid Inc.,
  • CR Hallcrest,
  • 3M Company,
  • and Welch Allyn.

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